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World Council provides international CU update at BSA Conference

first_img continue reading » 23SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr World Council of Credit Unions Vice President and General Council Michael Edwards provided an update on the international credit union regulatory environment Monday at the CUNA/National Association for State Credit Union Supervisors Bank Secrecy Act Conference.Edwards particularly emphasized a mistaken concept called “Know Your Customers’ Customers” (KYCC) that has resulted in many correspondent banks “de-risking” or ceasing to do business with certain categories of institutions.The Financial Action Task Force (FATF) sets global anti-money laundering/countering the financing of terrorism (AML/CFT) policy and guidance.Misinterpretation of a 2012 FATF recommendation has led to some prominent examples of banks closing credit unions’ correspondent accounts in Ohio and West Virginia, as well as in the United Kingdom and the Caribbean.last_img read more

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First look at Gold Coast property selling season

first_img79-81 Commodore Drive, Paradise Waters was one of 17 lots to go to auction. Photo: supplied by Diakrit.LUXURY homes and development sites have gone under the hammer in one of the first Gold Coast auction events.A stable of 17 properties were up for auction at the Amir Mian Prestige Property Agents Auction Showcase at the Palazzo Versace. Amir Mian auction showcaseDespite up to 25 registered bidders for the event and a diverse range of property stock, just one property sold under the hammer. Bidding on a suburban Southport residence started at $400,000 before it was called on the market and sold for $610,000. The two-storey residence features a Mediterranean inspired guest house. 33 Palm Ave, Surfers Paradise attracted plenty of Chinese buyer interest.Bidding on a vacant lot at Surfers Paradise inched slowly along, with one bidder offering increments of $1000, before it was ultimately held over at $800,000.“At that site, the bidders are at $800,000 and the sellers are at $950,000 so it’s close,” said Mr Mian, who will now assist negotiations behind closed doors for the 16 remaining properties.“In the next fourteen days we will see where we end up, hopefully there is a medium somewhere.” More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North1 hour ago02:37International architect Desmond Brooks selling luxury beach villa21 hours agoIt was called on the market at $610,000.“The positive is that 90 per cent of the properties had bidders,” principal Amir Mian said,“Bidders are around five to 10 per cent shy from where the sellers are, so sellers are digging their heels in and so are the buyers.”Mr Mian had said his event would be a “litmus test” of the current Gold Coast property market and how it would move in 2018.“Two things can happen from here next year, either buyers will come up and meet the sellers, or the sellers have to adjust to the market,” he said.“What the sellers need to do now is look at where the market is.” It offers spacious living with river and skyline views.But Mr Mian said the event showed an improvement in bidder activity compared to the last six months.“On the development and land lots, the majority of bidders were Chinese,” he said, “Around 20 per cent of them were from interstate, we had someone from Canberra, we had someone from Melbourne, we had someone from Sydney.”The team is now preparing for another auction showcase in January, planned to coincide with the end of school holidays, interstate market interest and the Chinese New Year. 18 Egerton St, Southport was the sole property to sell under the hammer.last_img read more

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Heaton fully committed to Clarets

first_img Burnley were relegated to the Sky Bet Championship last weekend despite recording a 1-0 win over rivals Hull. The Clarets play their final home game of a roller coaster season on Saturday when they welcome Stoke to Turf Moor. “That’s certainly my appetite and that of individuals. We can start building momentum now in the next two games and get ready for the new season. “Probably at other teams it’s felt a bit more parted but certainly this dressing room isn’t like that. There’s still that togetherness.” Burnley have no fresh injury concerns ahead of the visit of Stoke. Forward Sam Vokes is expected to return from the thigh injury that has kept him out for the last three matches. Midfielder Dean Marney, who signed a 12-month contract extension on Friday, remains sidelined with a long-term knee injury and defender Kevin Long is unavailable for the same reason. Stoke boss Mark Hughes has reiterated his desire to keep goalkeeper Asmir Begovic and denied reports of a contract dispute. The Bosnia-Herzegovina international will enter the final year of his current deal this summer and there has been much speculation about his future. Hughes has often stated that club and player plan to discuss the situation at the end of the season, but that has not prevented rumours that talks have stalled over wage demands. Begovic has also been linked with Manchester United and Liverpool recently, with stories fuelled by the player’s lack of participation in the Potters’ last two games. Hughes says he has been fulfilling a pledge to allow England Under-21 international Jack Butland some game time late in the campaign, but he admits Begovic asked not to be on the bench. The 27-year-old instead took the opportunity to undergo what Hughes described as a “slight procedure”, but he could be back in action at Burnley. Hughes said: “My view on it hasn’t changed. I want Asmir to stay here. We can offer him a good option. We feel we are progressing and we want him to be part of that. “We are conscious that he is in the last year of his contract, so we are wary of that. “Financial demands will always be part of the discussion, but I don’t think that would be something that would affect anything we would be looking to do with him. “We haven’t had those talks yet but once we do at the end of the season then hopefully we can get a quick and happy resolution. “We want Asmir to keep progressing as one of the best goalkeepers in the Premier League here. I am very hopeful of being able to agree something with him and his representatives.” Stoke captain Ryan Shawcross is likely to miss out with a knee injury but f ellow defender Marc Wilson is available again after suspension. Tom Heaton wants to see out his contract at Burnley and help the Clarets bounce straight back into the Barclays Premier League. Although Burnley have conceded 53 goals this season, Heaton has been one of their best performers and that has not gone unnoticed by other clubs, it seems. Newcastle and Everton – among others – have been linked with a move for the former Manchester United goalkeeper, but he does not seem ready to jump ship any time soon. “It’s been fantastic in the Premier League but I’ve had a fantastic time at Burnley this season and last,” Heaton said. “I’ve got two years left here and I’m thoroughly enjoying it, so the focus is 100 per cent on Burnley.” Sean Dyche has only spent around £8million this season so most of the players that helped Burnley get promoted last year remain at the club. Heaton believes the unity and spirit within the squad will help them in their bid to return to the big time at the first opportunity. “The important thing is we bounce back quickly with the appetite and motivation to get back to the Premier League,” the 29-year-old said. “There’s more than enough ability in that squad to get straight back up there and compete again next year. Press Associationlast_img read more

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